Sam Bankman-Fried (SBF) withdrew his pro se Rule 33 motion for a new trial this week, preserving the right to refile after his pending appeal is resolved. The withdrawal letter, docketed in the U.S. District Court for the Southern District of New York under Case 1:22-cr-00673-LAK, was addressed to Judge Lewis A. Kaplan. Bankman-Fried cited two reasons: he was forced to respond to the court’s questions about attorney involvement instead of drafting a reply to prosecutors, and he stated he did not believe he would receive a fair hearing from Kaplan on the matter. The motion was filed without prejudice, allowing refiling once the Second Circuit rules on his direct appeal and a related request for reassignment to a different judge is decided.
Bankman-Fried originally filed the Rule 33 motion on Feb. 10, 2026, through his mother, attorney Barbara Fried, while held at MDC Brooklyn. The motion alleged newly discovered evidence, including claims that the DOJ withheld information and pressured witnesses. Prosecutors filed a 44-page opposition on March 11, 2026. In a letter dated April 13, 2026, from FCI Lompoc, SBF described himself as the “ultimate author” of the motion, stating he conceived arguments, drafted multiple versions, and conducted most legal research. He said his parents offered editorial suggestions and a briefly retained New York attorney had no significant input.
Unliquidated FTX Portfolio Hypothetical Hits $114 Billion
On the same day the withdrawal was docketed, a post by crypto news account Watcherguru went viral on X, drawing attention back to FTX’s pre-collapse venture portfolio. The hypothetical estimated that if FTX had never liquidated its investments, positions would now be worth: Solana (SOL) at $5.1 billion (27x gain), SpaceX at $15 billion (75x), Cursor at $3 billion (15,000x), Robinhood at $4.9 billion, Anthropic at $82.3 billion (165x), and Genesis Digital at $3.5 billion. The total hypothetical portfolio value: $114 billion.
During FTX’s bankruptcy, court-appointed trustees liquidated most of these positions at distressed prices. The viral post sparked sharp responses: some pointed to the early investment picks as evidence of SBF’s analytical ability, while others noted the funds belonged to FTX customers and were moved without consent. The framing captures the tension that has followed the collapse: the same entity that defrauded customers was also an early backer of some of the highest-performing assets of the current cycle.
Appeal and Pardon Efforts Continue
Bankman-Fried has publicly sought a presidential pardon from Donald Trump, though none has been granted or indicated. His appeal before the Second Circuit remains active, as does the request for a new judge. The withdrawal of the Rule 33 motion does not affect either proceeding, leaving the door open for a new trial bid depending on how those matters resolve.